Cambodia’s Manufacturing Sector Surges: Over 1,300 Factories Established by 2023, Fueled by Peace and Stability

• Sommana Yan
• 26 May 2023
• Local News
• 6114 Views

In a significant testament to Cambodia’s flourishing manufacturing sector, PM Hun Sen revealed that the number of garment, footwear, and travel bags factories has soared from a mere 68 in 1997 to an impressive 1,326 in 2023.

During an address to factory workers at the Royal Group Phnom Penh Special Economic Zone on May 26, the PM attributed this remarkable growth to the prevailing peace and political stability that have successfully attracted both domestic and foreign investors to Cambodia’s thriving industrial landscape.

PM Hun Sen reminisced about the past, highlighting the modest state of Cambodia’s manufacturing sector in 1997, where only 68 factories employed 80,000 workers, with exports totaling approximately US$270 million.

At that time, workers received a meager salary of just US$40. Fast forward to the present day, and the country boasts an impressive network of 1,326 factories, providing employment opportunities to over 840,000 workers.

“We owe our remarkable progress to the peace and political stability that we have maintained. It has allowed us to attract substantial domestic and foreign investment, fostering local production and boosting our export capacity,” stated the PM.

He further emphasized that Cambodia’s export volume has experienced significant growth over the years, making a substantial contribution to the nation’s economy.

The garment, footwear, and travel goods industry, renowned as Cambodia’s largest foreign exchange earner, continues to drive economic prosperity, supported by a conducive environment that prioritizes stability and growth.

• Projects Development
• Economy and Finance